....is going to develop Biomass power plants.
Renewables: AREVA, Duke Energy to Jointly Develop Biomass Power Plants
in the United States
NEW YORK, Sept. 24, 2008 AREVA and Duke Energy announced today the
formation of ADAGE, an innovative joint venture dedicated to the
development of green biopower energy solutions for U.S. electricity
customers.
ADAGE will facilitate the development of biopower plants that will use
wood waste to produce electricity. According to the agreement, AREVA
will design and build biomass power plants. Duke Energy Generation
Services (DEGS), a commercial power business unit of Duke Energy that
owns and develops renewable energy, will manage operations. For each
project, ADAGE also will negotiate power purchase agreements and fuel
contracts, and secure suitable sites. Hence, ADAGE will provide
customers a fully integrated solution.
ADAGE is the first biopower ("biomass to electricity") partnership in
the United States between major energy companies.
"AREVA is strongly committed to renewables as part of its strategy to
provide its customers with innovative, environmentally friendly
sources of energy. AREVA has extensive experience in the biomass
sector, having designed and built more than 100 biopower facilities in
Europe, Asia and South America with capacity of more than 2,500
megawatts. We are delighted to partner with Duke Energy, which has a
growing portfolio of renewable assets throughout the U.S. market, and
tremendous experience in operating power plants." said AREVA CEO Anne
Lauvergeon.
"This project comes at exactly the right time as Americans face
soaring energy prices and look to meet rising electricity demand with
green energy sources. The ADAGE biopower facilities will respond to
our nation's need for new baseload energy alternatives," said Duke
Energy CEO Jim Rogers.
Biopower has great potential. Federal and state environmental agencies
consider biopower carbon neutral, a significant advantage over
traditional power facilities.
The impact of biopower facilities on our economy is just as important;
these facilities will create hundreds of new, green-collar jobs. In
addition, the utilization of biomass as an abundant domestic resource
reduces America's reliance on imported fuels.
"Based on the strengths and experiences of Duke Energy and AREVA,
ADAGE is well positioned to win a significant portion of the rapidly
expanding U.S. biomass market," said Reed Wills, President of ADAGE.
"Biomass provides an alternative baseload power source for states
concerned with CO2 emissions. We are committed to partnering with fuel
suppliers, power companies and state and local communities to develop
mutually beneficial projects."
The U.S. Energy Information Administration (EIA) estimates the total
installed capacity of wood biomass power generation to be 6,000
megawatts. EIA and several energy consulting firms predict that this
figure may double over the next 10 years.
ADAGE will be headquartered in Chadds Ford, Pa. near Philadelphia. To
find out more, visit www.adagebiopower.com.
The environmental commitments outlined in the ADAGE strategic plan
were featured at the Clinton Global Initiative 2008 Annual Meeting in
New York.
More about
AREVA
As the leading U.S. nuclear vendor and a key player in the electricity
transmission and distribution sector, AREVA Inc.'s 5,300 U.S. energy
employees are committed to serving the nation and paving the way for
the future of the electricity market. With 45 locations across the
nation and nearly $2 billion in energy revenues in 2007, AREVA Inc.,
through its subsidiaries, combines U.S. leadership, access to
worldwide expertise and a proven track record of performance. In the
U.S. and in more than 100 countries around the world, AREVA is engaged
in the 21st century's greatest challenges: making energy available to
all, protecting the planet, and acting responsibly toward future
generations. AREVA Inc. is headquartered in Bethesda, Maryland. Visit
us at: us.areva.com.
Duke Energy
Duke Energy, one of the largest electric power companies in the United
States, supplies and delivers electricity to approximately 4 million
U.S. customers in its regulated jurisdictions. The company has
approximately 35,000 megawatts of electric generating capacity in the
Midwest and the Carolinas, and natural gas distribution services in
Ohio and Kentucky. In addition, Duke Energy has more than 4,000
megawatts of electric generation in Latin America, and is a joint
venture partner in a U.S. real estate company. Headquartered in
Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the
New York Stock Exchange under the symbol DUK. More information about
the company is available
on the Internet at: www.duke-energy.com.
--
will
"If my life weren't funny, it would just be true;
and that would just be unacceptable."
- Carrie Fisher
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